APS earns A for handling of funds

Alpena Public Schools earned an A from S&P Global, the world’s largest credit rating agency, the district reported on Wednesday.

The agency had previously rated APS with an A-, said Lee Fitzpatrick, APS director of communications.

The agency said the improved rating reflects the district’s strong financial position and applauded the district’s conservative budgeting — which increased general fund reserves to 22% of expenditures — and low debt, Fitzpatrick said.


Today's breaking news and more in your inbox

I'm interested in (please check all that apply)
Are you a paying subscriber to the newspaper? *

Starting at $4.62/week.

Subscribe Today